The FTSE 100 soared at the open after the US announced a 90-day pause on import tariffs, but hiked China's tariffs to 125%.
After jumping over 6% in the first few minutes of trade, the blue-chip index has lost a little steam and is 335 points or 4.4% higher at 8,015 about an hour into today's session.
Barclays was the top riser initially, up 19%, followed by Melrose Industries, up 16.3%.
JD Sports, Rolls-Royce, Pershing Square, Intermediate Capital, Polar Capital Technology and Antofagasta were all up over 10% too.
Meanwhile, National Grid said its performance for the past year to March is "in line" with guidance provided at its interims, on a constant currency basis.
Tesco has unveiled a £1.45 billion share buyback alongside its preliminary results, but said profits are likely to fall this year.
